The central government has appointed former Finance Secretary Ajay Seth as the new chairman of the Insurance Regulatory and Development Authority of India (IRDAI).
The post was vacant since the end of the term of former Chairman Debasish Panda in March 2025.
About Ajay Seth
He is a 1987 batch Karnataka cadre IAS officer.
Recently he has been the Finance Secretary and Secretary of Economic Affairs.
Over 3 decades of administrative experience covering areas such as financial policy, public investment, infrastructure financing.
Educational Qualification:
Bachelor in Mechanical Engineering
Master's Degree in Business Administration
Insurance Regulatory and Development Authority of India (IRDAI)
It was established under the Insurance Regulation and Development Act, 1999.
It is headquartered in Hyderabad (Telangana) and is the main regulatory body of insurance companies in India.
The main objective of IRDAI is – orderly development of the insurance sector, transparency and protection of the interests of policyholders.
This institution issues licenses to insurance companies, monitors their products and resolves consumer complaints.
Tenure of Chairman in IRDAI
Term:3 years or till the age of 65 years (whichever is earlier).
The order of appointment has been issued by the Ministry of Finance.
Q. Who has been appointed as the new Chairman of IRDAI recently ?
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